A substantial expansion project is underway at Mexico’s largest seaport, the Port of Manzanillo, as Mexican authorities express confidence in positive economic growth and the resilience of global trade. This ambitious undertaking proceeds despite concerns about a potential economic downturn sparked by trade policies initiated by the U.S. administration, reports Reuters.
Expansion Underway
The Port of Manzanillo, already Mexico’s largest port and the third largest in Latin America, handled nearly 4 million 20-foot containers in 2024.
A multibillion-dollar expansion project is underway at the port, identified as a major infrastructure initiative by Mexican President Claudia Sheinbaum. This investment is part of Mexico’s broader strategy to counter potential economic downturns amidst the global financial uncertainty created by U.S. trade policies.
Despite a recent forecast by the International Monetary Fund (IMF) predicting a 0.3% contraction in Mexico’s economic growth for 2025 due to the impact of U.S. tariffs on exports, President Sheinbaum has publicly disputed this outlook. She asserts that public investment, including the port modernization efforts under her government’s “Plan Mexico” to bolster domestic industry, will prevent economic contraction. A government document released earlier this month emphasized the crucial role of modernizing the country’s ports, such as Manzanillo, in achieving the goals of this plan.
Interestingly, according to Julieta Juarez Ochoa, the port’s commercialization manager, the U.S. tariffs have not yet caused a slowdown in trade at Manzanillo. She explained that the majority of imports arriving at the port originate from Asia and are primarily utilized in domestic manufacturing processes. Consequently, she stated, “We don’t see any real impact (of the U.S. tariffs), and we don’t foresee a significant impact.”
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Source: Reuters
